SG Americas Securities LLC Sells 84,919 Shares of Edgewise Therapeutics, Inc. $EWTX

SG Americas Securities LLC reduced its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 95.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,804 shares of the company’s stock after selling 84,919 shares during the quarter. SG Americas Securities LLC’s holdings in Edgewise Therapeutics were worth $120,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in shares of Edgewise Therapeutics in the second quarter worth $45,000. Jones Financial Companies Lllp bought a new position in Edgewise Therapeutics during the 1st quarter worth $47,000. Seven Fleet Capital Management LP bought a new position in Edgewise Therapeutics during the 4th quarter worth $50,000. Steward Partners Investment Advisory LLC raised its position in Edgewise Therapeutics by 23.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock worth $71,000 after purchasing an additional 550 shares during the last quarter. Finally, Strs Ohio acquired a new position in Edgewise Therapeutics during the 1st quarter worth about $84,000.

Edgewise Therapeutics Price Performance

NASDAQ EWTX opened at $41.27 on Tuesday. The business has a 50 day simple moving average of $36.88 and a 200 day simple moving average of $32.09. Edgewise Therapeutics, Inc. has a one year low of $12.30 and a one year high of $48.40. The stock has a market capitalization of $4.44 billion, a P/E ratio of -24.86 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. Equities analysts expect that Edgewise Therapeutics, Inc. will post -2.01 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EWTX shares. Truist Financial set a $52.00 price target on Edgewise Therapeutics in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Monday, April 20th. Wedbush upped their target price on Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Guggenheim upped their target price on Edgewise Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, HC Wainwright reissued a “buy” rating and set a $45.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.92.

Insider Activity at Edgewise Therapeutics

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 50,000 shares of Edgewise Therapeutics stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total value of $1,928,500.00. Following the completion of the sale, the chief marketing officer directly owned 4,367 shares of the company’s stock, valued at approximately $168,435.19. The trade was a 91.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alan J. Russell sold 200,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the transaction, the insider owned 24,555 shares in the company, valued at $967,712.55. This represents a 89.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 255,230 shares of company stock valued at $9,974,147. Insiders own 21.30% of the company’s stock.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.